Last year’s Innovation Fellows winner, Fosmo Med, developed the Maji IV saline bag. This new technology has the potential to save millions of lives. Learn more at http://philips.to/UR0El4 .
Click here to learn about FosmoMed’s progress since winning the Innovation Fellows Competition.
Based on the concept of “open innovation,” we believe that everyone has the potential to change the way we live our lives – for the better. That’s why we are calling on you to submit the next big idea to address the gaps recently identified in our North American Innovation Report.
According our research, nearly two-thirds of North Americans consider themselves innovators, and the majority of which believe they are sitting on an idea for “the next big thing,” and just need money and know-how to develop it. And, the top two items innovations felt were the key to achieving successful innovation was financial support from big companies and mentor relationships. Respondents also said successful innovation improves lives, makes daily life easier, and meets an unmet societal need. In other words, people are not as interested in technologies that are created for technology’s sake, but those that are meaningful.
As a result, we are calling on you to submit your ideas for products and services that will help change the way we live. Do you have an idea for the next big thing in health and well-being? Do you want to help change the world? If so, we want to hear from you.
It takes more than just having a great idea to become an Innovation Fellow.
The Innovation Fellows program is accepting applications from July 23, 2014 - August 22, 2014.
To apply, click on the Register Now link in the top right corner of this page and fill out the form.
Phase 1 – Submit an idea
Starting in July, interested participants can register here and submit their #bigidea. The Innovation Fellows competition is looking for the best products, services and tangible ideas that address the key innovation opportunities of Living Well, Being Healthy, and Enjoying Life. Note: If you already have a campaign live on Indiegogo that you’d like to add to our competition, please be sure to add a link to your campaign in your entry.
If your idea is selected, you will receive an e-mail confirmation about how to move onto Phase 2 of the competition.
Phase 2 – Build your campaign on Indiegogo
Philips is partnering with Indiegogo to host this competition to see which ideas can garner the most support through crowdfunding. If your idea is accepted, you will be notified by Philips, and you will have the opportunity to start building your pitch on Indiegogo. You have until August 31 to push your campaign live on Indiegogo
Phase 3 – Finalists selected and notified
Once the Innovation Fellows projects go live on Indiegogo, entrants will fundraise through crowdsourcing to showcase which ideas have the greatest potential. Campaigns will be live through September. Philips will announce five finalists mid-October as determined by the Philips Steering Committee. Each finalist will receive a $10,000 cash prize.
Phase 4 – Winner selected
The grand prize will be selected by Philips employees. One grand-prize winner will receive an additional $50,000 cash prize ($60,000 in total) and mentoring from Philips executives and relevant business line leaders.
The Philips Innovation Competition focuses on the key innovation opportunities to help people live well, be healthy and enjoy life.
Success in this competition requires:
The Philips Innovation Fellows Competition focuses on the key innovation opportunities, specifically:
Interested in learning more about the Philips Innovation Fellows Competition? Contact us at InnovationFellows@Philips.com for more information.
* The Philips Steering Committee also reserves the right to select “wild card” ideas that have not met their financial support goals (in lieu of another campaign that has), if it believes the ideas satisfy all other criteria set forth by the competition. However, the selection of a “wild card” project is not guaranteed, so entrants should make all efforts to meet these goals.